As price continues to move in the way of our forecast, I have made some adjustment across the technical landscape.
First, our primary target, defined last March 9th, 2014 ("TG-1 = 1.36707 - 29 MAR 2014") got hit dead-on, right at the tip of the current 4-hour candle, as price more of less followed the anticipated pathway laid out by the blue arrows, which are there NOT to define the pathway per se, by highlight anticipated hurdles, targets, S/R levels.
At this point, a relief rally is anticipated, with a structural cap near the 1.37500 level. Besides carrying a psychological weigh, this structural number defines historical where minor shoulders have developed prior to the left major shoulder. This may be a weak analytical point, but one worth carrying in mind, as the symmetry of the pattern is thereby preserved.
Looking at the M15 and H4 level, there are no other anticipated technical event that have occurred that should alter the lower target. The overall trend remains markedly .
Predictive Analysis and Forecasting
- All my comments are founded on unshared proprietary as well as common knowledge of technical analysis: Do your own due diligence before trading any market/asset. Additionally, my signals, forecasts, analyses and directional opinions are for educational purposes only and are not trading recommendations. Again, do your own due diligence first, then seek financial advice from a licensed professional, and only then enter the market at your own perils - David Alcindor - TradingView.com Alias: 4xForecaster
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